By The Weekly Edge desk · · Updated
Two federal appeals courts disagree on whether sports event contracts constitute bets, Sports Handle reported on 24 September. Three petitions are before the Supreme Court as Kalshi continues to record trading highs.
Conflicting appeals court positions leave prediction market operators facing disagreement over whether sports event contracts constitute bets.
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The partnerships give the tribes customer-facing apps while Kalshi operates the underlying exchange and settles transactions.
Four additional tribal agreements give tribes app ownership and customer management while Kalshi supplies exchange services.
Kalshi’s sponsorships expand MLB prediction market partnerships, with four new partners playing in states that prohibit sports betting.
The agreements give Kalshi advertising exposure and fan engagement opportunities across five MLB teams.
The partnerships create commercial opportunities for tribal operators while legal disputes over sports event contracts remain unresolved.
The case could affect whether states can regulate sports prediction markets and the safeguards operators face.